South Ko­re­an reg­u­la­tor sus­pends Sam­sung Bi­o­Log­ic­s' stock, cit­ing ac­count­ing vi­o­la­tions

Sam­sung’s biotech arm Sam­sung Bi­o­Log­ics in­flat­ed its val­ue ahead of its 2016 list­ing, will­ful­ly breach­ing ac­count­ing stan­dards, South Ko­rea’s fi­nan­cial reg­u­la­tor has found, cap­ping months of spec­u­la­tion sur­round­ing the com­pa­ny’s ac­count­ing prac­tices, ac­cord­ing to re­ports pub­lished on Wednes­day.

South Ko­rea’s Se­cu­ri­ties and Fu­tures Com­mis­sion (SFC) has sus­pend­ed Bi­o­Log­ics’ stock, fined the firm 8 bil­lion won ($7.04 mil­lion), and has tasked the stock mar­ket op­er­a­tor — the Ko­rea Ex­change — to re­view whether Sam­sung Bi­o­Log­ics should be delist­ed al­to­geth­er, ac­cord­ing to Nikkei.

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